Rowly, a Kuopio-based company offering an application for mobile equipment rentals, has completed its second funding round, enabling its next phase of growth and international expansion. Joining the round are previous investors Kim Väisänen and Nostetta Ventures, along with a new significant investor, SPY – the Finnish Small Investors’ Association. SPY, an investment group of successful entrepreneurs, brings expertise in platform and SaaS business models.
Mikko Nurminen, a member of SPY’s investment committee and co-founder of Hostaway, which recently received a $175 million growth investment from PSG Equity, sees strong growth potential in Rowly’s application, RowlyGO. “During our due diligence process, we were particularly impressed by the technical execution and code quality of RowlyGO. We believe Rowly has the potential to become Finland’s next major success story,” commented Nurminen.
“Previously known as Orhi, Rowly has brought mobile equipment like cars, trailers, and snowmobiles into the rental market through the RowlyGO app, streamlining rental operations and simplifying the rental process. This funding round is a significant step toward realizing our vision of becoming the first choice for mobile equipment rentals in Finland,” says Rowly’s founder and CEO, Timo Rissanen. “With this second round, we now have the opportunity to expand internationally while keeping strong roots in Finland,” Rissanen shares.
The name change supports Rowly’s international growth ambitions and its mission to maximize the utility of mobile equipment. The company recently rebranded from Orhi to Rowly, with the new name reflecting its modern approach and suitability for international markets. Rowly aims to become the first choice in mobile equipment rentals in Finland, with this funding round providing momentum for expansion into Sweden, Norway, Spain, and further across Europe.
“There is a great deal of equipment sitting unused worldwide, and we want to enable its maximum utility. We’re building a comprehensive marketplace that offers our customers increased online visibility and helps rental equipment reach broader awareness. Through this, rental businesses can add a booking engine to their website and gain a robust channel to reach customers. Initially, we’re focusing on business clients, but in the future, consumers can also rent items like jet skis or cars through our marketplace. Our goal is to create a flexible platform that makes renting easy and efficient for everyone,” Rissanen explains.
Noora Tuikka, CEO of Nostetta Ventures Oy, which manages the North Savo Startup Fund, sees a bright future for the company: “We have strong faith in Rowly’s business model and see significant growth potential in mobile equipment rentals both domestically and internationally. The Rowly team has put the company on a solid growth trajectory, and their expertise supports the next growth leap.”
Kim Väisänen, an experienced startup investor from Tuusniemi and chairman of Rowly’s board, supports Rowly’s growth with his continued investment. “I was surprised by how rudimentary software solutions for mobile equipment rentals have been so far. Rowly has a real opportunity to become a market leader in this field,” Väisänen states.
Additional Information:
Timo Rissanen
CEO, Rowly
+358 44 796 7453
timo.rissanen@rowly.fi
Noora Tuikka
CEO, Nostetta Ventures Oy
+358 40 138 3225
noora.tuikka@nostettaventures.com
Lauri Sommarberg
SPY – Finnish Small Investors’ Association
+358 46 600 4486
Kim Väisänen
Chairman of the Board, Rowly
Rowly
Rowly is a Kuopio-based software company offering RowlyGO, an app for managing mobile equipment and streamlining rental operations. RowlyGO integrates booking, product and customer management, online booking, and payment processing – all in one place. With our application, entrepreneurs can focus on their business or take time off while all aspects of fleet management and billing are automated. Rowly employs eight people.
